Harbor Team has considered fairness, transparency, legal constraints, responsibility for the society and economy, protecting investors, maintaining the value of cryptocurrency, and making cryptocurrency that can survive intense competition to resolve such problems. Therefore, we would like to propose a new ICO model, which we named underlying Asset ICO, UAICO in short.
The followings are the characteristics of UAICO.
It is an asset-based currency, a currency with the power to protect investors and the issuer has the authority to issue the currency. I think that this model of cryptocurrency would be the new standard for issuance of the cryptocurrency for the business that can generate long-term profit.
Basically, UAICO is a currency that makes all of cryptocurrency invested through ICO underlying asset using smart contract.
All ETHEREUM invested by investors in ICO will be stored in smart contracts to form an underlying asset and maintain minimal value, regardless of the business performance or technology development of the issuer.
When new coins are distributed, most of them are allocated to investors, but some are reserved for development cost and share of the founder so that it can pursue development and commercialization.
For example, if 30,000 HBR is issued with the fund of 1 ETHEREUM, and an investor invests 1 ETHEREUM, the actual HBR allocated to the investor shall be 21,000 HBR. 6,000 HBR will be allocated to the development cost and 3,000 HBR will be allocated to the founder.
Investors can choose to withdraw investment at any time, and if they transfer their HBR to an ICO contract, they will be able to get 0.7ETHEREUM for the full amount of money supply.
The withdrawn HBR is incinerated to maintain its overall value stability.
We named it UAICO because it keeps the minimum value as thes investment is converted to the underlying asset. In UAICO, most of the rights of the assets from ICO belong to investors, while in general, ICO founder has the right of the invested fund and even some of the newly issued cryptocurrency.
The investment risk is reduced, as all assets that have initially been invested will maintain the value of new cryptocurrency through smart contracts, and investors can get some of the initially invested assets at any time through withdrawal of the investment.
Unlike DAICO, it is possible for individual investors to make independent decisions, rather than making a decision through voting.
Even if some investors withdraw their investment during this process, the fund needed to carry out the ICO project remains intact, so technology development and commercialization can be performed without difficulties.